Hewlett-Packard has pipped Compaq to the post with the announcement today that it has come to the end of its search for a new chief executive.
Carly Fiorina, former president of Lucent Technologies Global Service Provider business, will succeed Lew Platt who is to retire on 31 December.
Recently named by Fortune magazine as the most powerful woman in American business in its Top 50 Most Powerful US Businesswomen list, Fiorina spearheaded Lucent's 1996 initial public offering and subsequent spin off from AT&T. She was also closely involved in Lucent's acquisition of Ascend.
Sam Ginn, member of HP's board of directors and leader of the chief executive search committee, commented: "Carly Fiorina has an exceptional track record of accelerating growth in large technology businesses and building organisations that distinguish themselves in tough, competitive environments."
He added: "Her approach to business resonates clearly with HP's values and heritage. The board unanimously agreed that she is quite simply the ideal candidate to leverage HP's core strengths in the rapidly changing information systems industry."
Fiorina, who has a degree in business administration and a masters from Massachusetts Institute of Technology, is also a member of the board of directors of the Kellogg Company and Merck, and was recently elected to the US China Board of Trade. She is 44 years of age.
She commented: "Leaving Lucent was a very difficult decision, but this is a once in a life time opportunity for me."
She added: "I am delighted and deeply honoured to have the opportunity to lead one of the most respected companies in the world - I will strive to strike the right balance between reinforcing HP's values and working to reinvent its businesses."
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